Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Nov. 8, 2019

Winter Moving Tips; It is Possible to Buy, Sell, and Move Successfully in the Winter Months.

If you’re thinking about moving, it can feel quite overwhelming. If you’re moving during the winter months, it can feel like an intimidating task. Weather can add an additional challenge in an already stressful day. But it is possible; The Home Guyz have seen lots of successful, smooth winter moves. Whether you’ve decided to use a moving company for the big day or are using friends and family to assist, the preparation is the same.  Remember, they’re doing you a favour and the least you can do is ensure that you’re prepared for their help. It will be much appreciated. Here are some moving tips that can help your moving day, or even help you feel less anxious about the prospect of buying and selling your home in the winter months. 


#1  Check the weather and keep everyone in the loop. If a really big storm is expected, it may be best to select a different moving day, if all parties are willing and able. It’s a matter of safety for everyone involved, as well as anyone on the road that day.  



#2  Keep a “Moving Day Essentials Box”. These are the items you’ll need access to on moving day. You don’t want to go searching through boxes looking for something you need. Below is a list of all the items to consider putting in the box.

#3  Prepare your clothing - Remember not to pack away all your warm clothing and outerwear - keep a separate box for keeping these items handy if needed. Dress in layers; it may be freezing outside but as you start lifting, you’ll soon warm up. Make sure that you can accommodate by removing clothing. 

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#4 
 Have a warming station; this is suitable whether you’re using a moving company or not. You may not have the heat on in the house (as the doors will be open all day) but make sure that you have a room where people can go to warm up. 


#5
  Have hot drinks available. Again, keep them in your moving day essentials box with a crockpot, kettle and mugs so that you can provide friends and family (or movers) with some hot food and drinks. There are lots of recipes that you can quickly and easily prepare for moving day to keep everyone warm, like this one!  If delegation feels like the last thing you want to do on moving day, it’s a great task for grandma, or a pregnant friend who can’t help with lifting. Lots of people want to help but aren’t always able- and this task will keep them busy and useful and will be very much appreciated by everyone. 



#6  Have tarps and towels available for both residences. You’ll want to lay them down in the main walkways to keep from treading snow, slush or salt throughout the house. Have extra garbage bags handy (either in the house or in the truck) to cover items you may not want to get wet.


#7
  Prepare walkways ahead of time. The last thing you need on moving day is for anyone to slip and fall. Make sure to have walkways cleared and salted before anyone starts moving anything.  



#8  Take Extra care with fragile Items. Extreme cold temperatures can shatter glass, so be mindful when packing. Some fragile items may need an extra layer of protection (bubble wrap etc.) and ensure these boxes do not get left in a moving truck overnight. You can create extra labels for these items to make certain that they can easily be spotted and separated from the other items. Keep important electronics in mind too, as they can also be damaged in extreme cold.  

#9 
 Make sure you keep snowplows in mind. Find out ahead of time where the best place would be to park extra cars, that won’t be plowed in. You do not want your friends and family getting plowed in after a long day of helping you move. 

#10 
 Get a babysitter. The house will be cold, the kids will be miserable, and it will slow down moving day. Avoid that hot mess by making sure you have someone who can take the kids for a fun day while you do the hard lifting.

#11  Once all the boxes are in, make your first task making the beds. You’ll be cold and tired, and it will be a long day. Once you’re exhausted and ready for bed- it’s the worst feeling to realize you must find/ unpack linen and make the beds. Do this first- you’ll thank yourself at the end of the day when you’re crawling into pre-made cozy beds.  



#12 
 Take care of your movers. It’s not an easy job for them so make sure you take care of them well in tough conditions. And if you’re satisfied, make sure to give them a great review online. 




#13 … MOST important! 
 Make sure your utilities are all set and on for moving day. You can’t arrive into a cold dark house and expect a smooth day. Ask your agent for tips to get this set up a few days prior to your move.    




Winter Moving Day Essentials Box: These are the items you don’t want to pack at the back of the truck. Keep this stuff handy so you can easily access it on moving day.

  • 

Spare Gloves, hats and warm clothing 

  • Towels, tarps, garbage bags and blankets 

  • Crockpot, kettle, coffee & tea, warm snacks, mugs/ teaspoons 

  • Space Heater 

  • Salt or sand for the walkways

  • Snow Shovel  

  • Cash to tip your movers  

  • Toilet Paper  

  • Flashlight (in the case of a winter power outage)  

 


Moving homes in Winter doesn’t have to be too daunting, as long as you’re well prepared, flexible and approach your day with a positive attitude. If you’ve just bought or sold your home, you’ll know there are benefits to the off-season. And if you’re considering selling your home and buying in the winter, speak with your Home Guyz Agents to hear all the benefits and drawbacks that come with the real estate business in the winter season. 

Good luck with your move- and stay safe 😊

 

via GIPHY

Sept. 5, 2019

Fall Tips to Prepare you Home for Long Ottawa Winters | Ottawa Real Estate

Ottawa Home Winter Maintenance

Fall Tips to Prepare you Home for Long Ottawa Winters 



We hate to talk about this in September, but it’s inevitable, an Ottawa winter is on its way and that means now is the best time to prep your house for the elements. You’ll thank us mid- winter when your home is running smoothly and snuggly while the weather outside remains frightful.  



Over the next month we urge you to start thinking about how to prepare for the winter. This includes not only servicing, upgrading and repairing but also cleaning, ordering and organizing for winter.  The Home Guyz have prepared a checklist of things to get done over the next few months to ensure that you go into the winter season feeling organized and prepared.  Not only will the winter maintenance make life easier, it could benefit you later. If you decide to sell your home, having done the seasonal maintenance and repairs your house will have far more curb appeal and higher value.  You may find that the efficiency of your home increases (yay for saving money) and that regular maintenance will keep the home on better working order. 



Many of these tasks can be done yourself, however; some tasks may require professional services. While this may seem costly, having regular maintenance will not only ensure the job is done right, but in the long-run paying for an annual check-up will increase the lifespan of your homes fundamental elements and save yourself on hefty repair costs and huge inconveniences in the long run.  Make sure to take a look through your service agreement, or any additional insurance you may have alongside your mortgage as this may cover annual services so you should certainly take advantage of these existing benefits.

  • 

Change your floor mats - Everyone hates a soaker. Make sure to upgrade to your winter matts, switch out your novelty doormat and get out the larger heavy-duty floor mats that can absorb all that salt and slush. This will protect your flooring from salt stains, although it’s ugly, it’s a necessity during an Ottawa winter. 


  • Caulk windows and cracks - 
The best way to keep drafty doors and windows in check. Here is a great DIY video of how-to best caulk windows to keep the drafts out and keep your home more energy efficient. 


  • Get your chimneys swept - 
If you have a wood burning fire, your chimney will be full of soot that accumulates and can be a safety hazard. We don’t recommend this as a DIY, it’s messy and difficult and takes the right equipment but the job is essential to keep you family safe. Here is a local company who can help.
  • Turn off outside water - 
Disconnect hose and store inside. Take inside any lawn furniture, outdoor rugs and cushions, or lawn ornaments that can’t withstand a harsh winter. Bring umbrellas indoors for storage.
  • Get Heating system serviced - Replace your filter and get a general furnace check up. Refer back to your maintenance agreement, or additional insurance you have alongside your mortgage as this may cover annual servicing. You want to flag anything that may need fixing as early as possible before being caught without heat on a cold winter’s day. 


  • Prep your emergency boxes in both car and home - 
Make sure you have candles, flashlights, batteries, blankets and fully charged spare cell phone battery. Don’t forget to put your snow brush in your car, make sure your windshield wipers are up to par and book your appointment to get your winter tires changes, don’t wait until the first snow fall or you won’t get an appointment! 


  • Trim your trees - Do a quick check for any deal branches or tree branches that may be touching your homes roof. Cut them back to eliminate any branches breaking off and causing damage during an ice storm. 


  • Check you smoke and carbon monoxide detectors - If there is one thing on the list that’s a must, it is this one. Give them a quick check to keep your family safe. Did you know that the majority of house fires happen in the winter?! It’s important to make sure that they’re all in good working order.
  • Prepare for snow removal - Whether using a service or shovelling yourself make sure you have everything you need in good working order. Order or buy salt ahead of time, so you don’t get caught off-guard with the first freezing rain coming sooner than expected and no salt to throw down. Start-up your snow blower and make sure it’s easily accessible and in good working order.  If you use a professional service, contact them early and get your contract in order.


  • Clean your gutters - 
In late fall clean out the gutters from leaves and debris. As your up a ladder, you may as well plan ahead and put up your Christmas lights (but don’t turn them on too early, don’t be that person)


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So there you have it, The Home Guyz list to winter preparation for your home. Taking pride in home ownership, keeping your house properly maintained will keep your house’s value high and will save you a lot of unexpected costs and repairs. 

 


The Home Guyz Team at Solid Rock Realty


 

 

Aug. 2, 2019

Living in Small Spaces | The Home Guyz | Ottawa Real Estate

Living in Small Spaces; Can it Work For You?



Image by Patrick PerkinsWith the emergence of so many One Bedroom Condos in Ottawa, ON popping up around the City of Ottawa, we’ve noticed a trend towards living in small spaces. Many of the places The Home Guyz Team have had the opportunity to see lately have been some truly stellar small spaces. Maximizing your square footage is a new trend growing because of the amount of millennial families embracing the minimalist lifestyle and seeking affordable homes with a smaller square footage. 



Small space living isn’t for everyone, but we’ve experienced with clients who truly make a small space work for them by making their space functional. Are you wondering if a small space can work for you? Here are some things to contemplate before making the final decision: 


Minimize:  You have to be willing to minimize. Small spaces just aren’t for everyone. If purging your things gives you anxiety, then a small condo may not be the right choice for you (but don’t worry, we’ve got you covered with other great options). You need to be okay with a lack of nick-knacks and chachkies; you simply don’t have the space for the stuff. Rest assured, this way of minimalist living is a healthy and sustainable lifestyle that can bring you a less stressful way of life. 



Think Upwards: You need to have the ability to think creatively and understand how to make good use of the space. Think upwards, high shelving for books and plants, hanging pots and pans. Utilizing every inch of the closet; all the way up to the ceiling, what can often be wasted space can turn into prime storage real estate. Having the ability to adapt your space and think outside the box. Being creative with your space is crucial to making the space functional.


Multi-Purpose Everything: Making sure that everything in your living space has a function, or even better, multiple functions. For example, an ottoman that has the ability to function as a side table, or a dining chair that can double as an office chair when needed.  If this idea feels disappointing, that having to limit your love for décor and abundance feels stifling, think about this as you deliberate the size of house that will work for you. (Ottomans can also offer storage too!)



Choose the Small Space Wisely: Make sure that the space you're buying is something that you can work with. Just because you’ve come to terms with living in a small space doesn’t mean that you’ll be okay with all small spaces.  For example, check the ceiling heights, the natural light, the storage. Think about those extras that need to be hidden (the vacuum, broom, laundry basket and gym bag).



Consider Your Lifestyle: If you are a home-body, your lifestyle is something to take into consideration when deciding if a small space can work for you.  If you’re happy to leave the house to go to the gym, or use the library instead of buying books, and go to the park for the kids to play rather than a backyard, then it may seem like an easy transition. If you like to hunker down at home and use it as your centre for activities then the transition into a small space may be difficult. 

 


Don’t feel too intimidated by small spaces, they can be a cozy and environmentally friendly way to live. But be aware that this way of living just simply isn’t right for every personality. It has to work for everyone in your household, and it has to be done with great consideration of the way you use your space, your lifestyle and priorities, and your stuff. It can also have great benefits to your finances, your carbon footprint, and your well-being.

Consider wisely and most of all, enjoy your home!

by:

The Home Guyz Team | OttawaRealEstate.ca

Solid Rock Realty Brokerage

Photo by Patrick Perkins on Unsplash
June 24, 2019

Allergy proof your Home This Season

Image by Free-Photos from Pixabay

Allergy Proof Your Home This Summer 

 

Anyone who suffers from seasonal allergies doesn’t need to be told that this year is particularly bad. The sneezing, runny nose, itchy watery eyes is driving the most level-headed people to consider selling their home and living in a bubble. You can check with The Home Guyz Team... But the Ottawa Real Estate Industry currently have zero bubbles for sale; but what they can provide is some alternative tips to eliminating pollen in your home.

Pollen is a super fine powder that is produced by trees, plants and grass during their reproductive cycle. So, while the plants are getting busy we’re left inhaling this powder which gets into our homes and settles on surfaces which in some people, triggers their immune system to react causing allergy symptoms. The Spring months usually bring tree pollen and in the height of summer, the grass pollens begin. In August and September and early Fall those who suffer from Ragweed allergies get their time. Often people can be allergic to more than one type and suffer with the pollen coming achoo … er, at you all summer long.

Here are a few tips and tricks to help keep the allergen particles out of your home so allergy sufferers can have a little relief this summer. Close the Doors and Windows. While closing your doors and windows isn’t the best way to enjoy that summer breeze, it is a good way to eliminate the pollen that makes its way into your home. If you’re waking up stuffed-up it’s time to close those windows at night. Limit the amount of time you keep the door open - it sounds simple and it is.

Get houseplants that purify the air. Many plants have the ability to purify the air by collecting pollen in their leaves and cleansing the air in your home. But be careful when selecting which ones; they must be plants that don’t cause allergies and they must be cared for properly. Make sure you wipe down the leaves that have collected dust and don’t allow the soil to sit damp as it will aggravate your allergies further. A few of the top suggested plants for purifying the air are Dracaena, Spider Plants (they’re easy to look after, a very self-sufficient plant) and a weeping fig (a little needier, but lovable just the same)

Replace furnace filters.

Change your filter on a regular basis. The allergens in the air travel through the vents and can pass pollen throughout the house causing your allergies to get worse. This should be done every three months, however, for allergy sufferers you should change you filter more frequently, every 20- 40 days. Often you may be tempted to not change it if it doesn’t look dirty. But don’t be fooled, it needs changing. Some thermostats, such as ecobee, will allow you to set a reminder to change your filter. Make sure to check the sizes, and always check the instructions to ensure you aren’t installing your filter backwards.

Pro Tip: Costco often sells bulk filters, so you can buy all your filters for the year in one trip.

Use HEPA filters.

Make sure you vacuum on a regular basis; and most importantly make sure you’re vacuum has a HEPA filter. HEPA filters are “high-efficiency particular air filter” This type of filter traps particles (ie pollen) and doesn’t allow the fine particles to escape and trigger your allergy symptoms. Sometimes a vacuum will claim that it has a HEPA filter, but not all the air will travel through the filter itself, so make sure you check for the sealed HEPA filter.

Wash your curtains.

If you have curtains, they need to be washed often. Pollen can settle into any type of fabric, so either eliminate the curtains in the summer months; or be prepared to throw them in the wash bi-weekly.

Don’t forget the throw pillows.

Washing your bedding weekly is common place, we often forget about the throw and decorative pillows. While they may not appear to be dirty, they’re likely hanging onto particles that are making your allergies worse. If you can, pack away the additional pillows and decorative blankets for the summer months to eliminate the problem altogether.

Wash your dog.

Pollen particles can stick to dogs and they can drag it throughout the house unknowingly causing your seasonal allergy symptoms to worsen. Make sure to wipe down your furry friend when they’ve been playing outside. Don’t let your dog sleep or sit on the bed or couch, as they’ll leave particles behind making your allergies worse. Pro Tip: Wiping down your dog is a good habit to get into because it will also alert you to any ticks they may have picked up while outside.

We know these tips can’t eliminate your allergies, but they’ll certainly help while inside your home. We hope you’ll breathe easy this summer!

 

OttawaRealEstate.ca & The Home Guyz Team

Posted in Information
April 12, 2018

Expenses You Should Expect When Buying a Home

Expenses You Should Expect When Buying a Home

One thing most home buyers want to know before they begin the home buying process is what expenses they might encounter throughout this process. The price you negotiate for your new home is just the beginning as there are likely going to be more than a few extra expenses and costs that you will be up against. If you have a set budget, you’ll need to take the following into consideration:

Appraisal fee: Your mortgage lender will most likely require a home appraisal in order to ensure that you aren’t drastically overpaying for your home. The costs here typically depend on the size of the property and how complex the appraisal will be, but a general ballpark figure would be around $150 to $250. Some lenders may waive this fee, so when negotiating with your lender it can’t hurt to ask!

Property survey: A survey may be another requirement of some lenders in order for them to identify boundaries, lot measurements and easements. In most home resale cases, a survey will already be available. However, if the seller does not have one (or it is not accurate) and you need to get one, it can cost up to $2,000.

Lender application fee: Again, your lender may require a fee just to process your application. Ask your lender about this one too, as the fees can vary and certain lenders might even waive this fee for you.

Mortgage Broker fee: If you’re using a mortgage broker, they may require an upfront fee. This is not very common, but be sure to ask your broker so you aren’t hit with another unexpected cost.

Mortgage loan insurance: Typically if your down payment on your home is less than 20%, your lender will require mortgage loan insurance. This could possibly be added to your mortgage payments, so ask your lender.

Home insurance: Your lender will require you to have enough home insurance to cover the total value of your mortgage and your lawyer will need proof of this insurance in order to proceed with the transaction.

Title insurance: While optional, it is recommended that you get title insurance as it’s typically not very expensive. For $150 to $300 title insurance will give you coverage in case there are issues down the road with your property title. If there are issues and you do not have this insurance, the costs could be very large.

Deposit: Upon making your offer to purchase a home, you are typically required to give a deposit. While this deposit will go towards the overall cost of the home, it will be an out of pocket expense at the beginning of the real estate transaction, so be prepared.

Legal fees: Your lawyer will be reviewing the terms of your offer as well as taking care of the mortgage, title searches, title registration and adjustment costs. Legal fees can range anywhere from $1,200 all the way to $2,500.

Land transfer tax: Land transfer tax in Ontario works on a tiered structure. The first $55,000 is taxed at 0.5%, $55,000 to $250,000 at 1%, $250,000 to $400,000 at 1.5% and over $400,000 is taxed at 2%. Click here for more information on Land Transfer Tax in Ontario.

GST: Typically you will not have to worry about GST when purchasing a resale home, however new construction homes will be charged GST. You may be able to qualify for a rebate.

Home inspection: It is highly recommended that you get a home inspection when buying your next Ottawa home. Your inspector will look at everything from the foundation all the way to the roof and everything in between. Their report should go over any issues along with estimates on the costs to fix said issues. A typical home inspection can cost up to $600.

Additional costs and expenses: We covered most of the big ones, but it doesn’t end there! You may also need to plan for adjustment costs, property taxes, utility bills, hook up fees and of course your moving costs.

And that’s all before you even move into your new house! Once you get in you’ll likely need to spend even more money on furniture, window coverings and appliances. Buying a home in Ottawa, or anywhere for that matter can definitely be an expensive endeavour, so you will want to make sure you are financially prepared for what you are getting yourself into.

April 12, 2018

Preparing Your Home For Showing: The Interior

In our first article on preparing your home for showing, we talked about curb appeal and some tips on how to make the exterior of your house look good for showings. We mentioned that a high percentage of homes are actually sold within minutes of a potential buyer pulling into the driveway, which is true. However, you could have the nicest looking exterior in the world, but if a buyer enters your home and see messy, cluttered living spaces you’re going to find that your home is on the market for a long time.

The best advice we give to our clients regarding preparing the interior of their homes for showings is to start off with a targeted approach involving items inside your home. Chances are that you have accumulated a lot of “stuff” throughout the years, some of which you’ll never touch again. So go through your home and put everything in one of five categories:

Sell: If you have items that are somewhat valuable but that you don’t necessarily use, put them for sale on Kijiji or eBay. If you have a ton of little items, maybe a yard sale is in order.

Store: Family heirlooms, mementos, seasonal clothing or furniture that you don’t have room for (but that you might want to keep for your new home) should be stored away. If needed, renting a storage unit for a few months while you home is being showed could make a huge difference in the decluttering process.

Donate: If you have older furniture, electronics or clothing that you don’t use or need anymore, consider donating it to the salvation army. Clothing can also be picked up by organizations such as the diabetes association.

Keep: This one is self explanatory :)

Throw Away: When going through our homes, it’s amazing the amount of stuff we pile up over the years that we simply do not need and that really would be of no use to anyone else. Consider renting a dumpster if you have many larger items.

Keep these categories in mind when going through each room of your home (one room at a time). After you’ve went through your house and slimmed down your possessions to a reasonable amount, it’s now going to be time to stage your home for showings. Here’s some helpful advice on some things you’ll want to do to enhance your home’s interior:

Cleaning: This is of the utmost importance. Clean the interior of your windows, dust everything and clean all floors and surfaces. If you have stains on carpets, consider renting a carpet cleaning machine. You may also want to consider hiring a professional cleaning service to give your entire home a thorough cleaning before you put it on the market.

Painting: If you have walls in your home that look old, dingy or soiled, you should consider applying a fresh coat of paint. Stick with something neutral such as an off-white color.

Repairing: Repair any damage to drywall, plaster, walls, trim or any woodwork throughout the home. Repair any leaky faucets and shower heads as well.

While those are general tips for your entire home, we also want to share some room specific ideas for you:

Bathrooms: Cleanliness is key here. Make everything clean to a shine and hide away any toiletries that are not purely for decorations. Before someone comes through your house make sure your toilet seats and lids are all closed!

Kitchen: Again, much like your bathrooms having a spotless kitchen is key. Keep all surfaces clean and remove any non-decorative items from counter tops. Empty your trash bags and make sure your trash cans are kept hidden. If you have children you should also consider removing pictures, magnets and everything from your fridge.

Bedrooms: Put away any personal effects and photos. Make sure beds are made and that no laundry can be seen.

Living Rooms: Try to remove any photos or personal effects from living areas. Remove any dead looking plants or better yet, replace them with new plants. Get rid of magazines, newspapers, mail, etc.

Basement: Whether you have a finished basement or not, make sure there are no signs of water damage or any mouse/rodent traps laying around. If you use your unfinished basement primarily for storage, make sure it at least looks somewhat organized.

The goal with all of this really is to be able to give a potential buyer an idea of what your home will look like if their furniture and possessions were in place of yours. We think by following this advice you should have a fairly clean and decluttered home and be in a great position when it comes time to have people through your home for showings.

April 12, 2018

Preparing Your Home For Showing: The Exterior & Curb Appeal

The old adage of “the first impression is the last impression” is very true when it comes to buying a new home. When you go to prepare your home for that very first showing, always be sure to keep this in the back of your head and start from the outside of your home to the inside.

This might sound crazy to some, but most times a home is actually sold within minutes of a potential buyer pulling into the driveway. That first impression is a big one and is going to last to a buyer throughout the entire showing of your home. If a buyer is interested, that first impression will also last up until they make an offer and can have a great effect on what they perceive to be the value of your home.

So step into the buyers' shoes and see it from their perspective.

Here are some quick and easy tips on how to increase the curb appeal of your home:

 

Yard Work

  • Mow your lawn, trim hedges, pull weeds and water that lawn.
  • Pick up and declutter all areas of your hard.
  • Plant flowers and shrubs (depending on the season)
  • Clean up any pet areas
  • Add sod to any grassy areas that may not be so grassy any more!
  • Remove any tacky or distracting decorations.
  • Add new bark or mulch to your gardens

 

Exterior Home Repair

  • Paint or touch up any siding that may need it.
  • Stain or repair any outstanding issues to fences or decks.

 

Exterior Home Cleaning

  • Wash those windows, both inside and outside!
  • Hose down your siding or brick
  • Clean your driveway of any stains or marks.
  • Sweep your driveway and any pathways

 

Decks & Porches

  • Add a nice doormat, wreath or sign to your front door/entrance.
  • Add hanging flowers to your porch
  • If you don’t already have it, purchase (or borrow) some lawn furniture
  • Add a house number
  • Fix or add a new mailbox
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates
April 11, 2014

Tips on How to Price Your Home for Sale | Ottawa Real Estate Blog

 

 

One of the most important and difficult decisions when it comes to selling one’s home is figuring out the current value of your home and what list price you should set. There are so many different variables in play, but we will do our best in this blog post to try and answer your question of how much should I list my house for?

There are two main questions that an agent will usually look at when helping a client figure out the best listing price for selling a house:

  1. What is my home’s market value?
  2. What price can I list my home for in order to bring in offers at or above my asking price?

Determining Your Home’s Market Value

When it comes to getting the maximum value out of your home and figuring out the best initial selling price, one of the most important factors is knowing your housing market. You have to realize that housing markets differ from province to province and city to city. Your Ottawa home could have a much different value than the same exact home in another city.

Even the same home in different Ottawa neighbourhoods could have a substantial difference in value. It’s highly likely thatPricing Your Home For Sale an agent would list the exact same home for sale in Kanata at a different price than we would list it for in Manotick. So one of the first things a good agent will look at when valuing a home is what the demand for houses is in your specific neighbourhood and area.

If you request a home valuation on our site, the agent doing the valuation will take a very close look at what houses are being sold in your area and for what prices they are selling for. They’ll break down the numbers for comparable houses to yours to see what listing prices homes had and what homes were actually selling for in the last month, last 3 months, last six months and last year. This will give them a better indication of what the housing trends are in your area. They'll see if prices are going up, down and by how much. It’s also important to note (especially in a cold-weather city like Ottawa) that seasonality can also play a major role in pricing trends. We’ll take a closer look at seasonal trends in an upcoming blog post.

Even homes within the same neighbourhoods can have different values depending on the time period they were built. A similar sized home in the same neighbourhood that was built in the 1950s will likely have a different value than if it was built in the 1990s.

After taking all of this (and more!) into consideration, your agent should have an estimated range in their head on what the value is in your home. The next step is going to be to figure out what price you should actually list your house for.

Determining Your Initial Listing Price

Now that we have a good idea of what your home should be worth, you still need to figure out what price you’re going to list it for. Oftentimes you'll want to put yourself in the shoes of someone looking to buy a home in your neighbourhood. They’ll be scanning Ottawa real estate MLS listings when trying to figure out which homes they are interested in and want to visit in person.

So if your house appears overpriced compared to other houses on the market, you shoot yourself in the foot right away. When browsing Ottawa MLS listings, a potential buyer will most likely clue in right away that other houses look like better deals than yours and they will move on. It’s rarely the case that a buyer will think to themselves “Well, this home might be priced a bit high but I bet I can negotiate a better deal”. Instead, they’ll look at a house priced lower and think “Wow, do these people not realize they could be listing this house for much higher? What a deal this is!”

In addition to this, another issue you face when overpricing your home is that it may take longer to sell and eventually it will go stale on the market. Buyers are usually very suspicious when it comes to homes that have been on the market for an extended period of time and will be asking themselves questions as to why no one is making offers on your home.

So you will want to make sure that when figuring out what price to list your house for, that your initial price is realistic compared to your local market.

Small pricing fluctuations can also make a big difference. When a buyer is searching for a home, they usually have ranges that are within increments of $25,000. Our search also allows people to search within price range cutoffs. So pricing a home at $455,000 might not make the most sense. A price of $449,900 would most likely introduce a substantial amount of additional buyer interest.

We realize this all may seem quite overwhelming, but that’s what we’re here for. Our preferred agents know the Ottawa Real Estate market and can help you figure out the best price to list your home for.

If you want a professional to give you a free home value estimate on your house, then click here to fill out a free home value estimate request and one of our preferred agents will be in touch with you right away.